GM Reports May 2010 Auto Sales
GM has kicked off what will be a busy day of auto sales data. The automaker reported May sales of 222,822 units, up 17% from last year and 39,000 units more than last month.
This is positive news because GM represents between 19% and 24% of the market.
GM reported that a big contributor was fleet sales. This should increase GM’s share to above 21% for the month.
Given the numbers reported by GM, overall sales should surpass SiriusBuzzs’ magic number of 1 million. Look for SAAR to be 11.3 to 11.4 based on GM’s numbers.
A small caution should be placed on fleet sales. These will boost the American numbers, but will have little impact on imports. With GM attributing their gain in part to fleet sales, their boost had a tinge of artificial gain.
Position – Long Sirius XM Radio
SO-
thanks for the quick updates. I’m glued to your site here at work and am looking forward to all the news today!
Fly hi little doggie Mongo!
Spencer, if sales are up due to fleet sales, that does not bode well for SXM subscriptions…does it? Didn’t think they had satellite radios?
another’s guess
http://www.cdtv.net/newswire/c.....s-spending
Ford outperformed their estimates too–hmmmm
12:41 PM May U.S. sales: +20.6% to 31,431 vehicles. U.S.-built Sorento leads sales again with 8,166.
12:35 PM Chrysler (FIATY.PK) May U.S. sales: +33% to 104,819 vehicles, its first time over the 100K mark in more than a year, vs. expectation of +28%. Chrysler brand +29% to 20,699; Jeep brand +6% to 22,948; Dodge brand +73% to 42,242; Ram brand +12% to 18,930.
Correction: Kia May U.S. sales: +20.6% to 31,431 vehicles. U.S.-built Sorento leads sales again with 8,166. (PR) Comment!
12:35 PM
12:51 PM Daimler (DAI) May U.S. sales: +21.9% to 19,871 vehicles. Mercedes-Benz +26.7% to 19,176; Smart -40.6% to 695.